DIRECTORS’ DUTY TO CONSIDER THE INTERESTS OF CREDITORS AND OTHER STAKEHOLDERS WHEN THERE IS A LIKELIHOOD OF INSOLVENCY Cover Image

DUŽNOST DIREKTORA DA UZMU U OBZIR INTERESE POVJERILACA I OSTALIH STEJKHOLDERA U PERIODU PRIJETEĆE INSOLVENTNOSTI
DIRECTORS’ DUTY TO CONSIDER THE INTERESTS OF CREDITORS AND OTHER STAKEHOLDERS WHEN THERE IS A LIKELIHOOD OF INSOLVENCY

Author(s): Irena Radić
Subject(s): EU-Legislation, Commercial Law
Published by: Institut za uporedno pravo
Keywords: directors’ duties; interests of creditors; stakeholders; vicinity of insolvency; likelihood of insolvency

Summary/Abstract: Directive (EU) 2019/1023 on restructuring and insolvency requires member states to ensure that, where there is a likelihood of insolvency, directors have due regard for the interests of creditors, equity holders, and other stakeholders. In this paper, the author analyzes the legal position and interests of creditors and other stakeholders when there is a risk of insolvency and briefly addresses the legal mechanisms of corporate law that are directed to protect the interests of creditors and other stakeholders. The author also analyzes the content of directors’ duty as required by the Directive and the constraints and legal challenges of enforcement of the directors’ duty to act in the interests of creditors and other stakeholders.

  • Issue Year: 65/2021
  • Issue No: 1
  • Page Range: 139-158
  • Page Count: 20
  • Language: Serbian
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